Goldman Sachs Nets Another $3 Billion


Goldman Sachs showed their comeback in the last quarter was no fluke this morning, announcing third-quarter earnings of $3.19 billion, up from last year’s paltry $845 million. Do they get to enjoy it, for even a second? Hell no. Bloomberg has already pointed out that its not as much as last time, and everyone is ribbing them about their “exorbitant pay packages” and ham-handed attempt to look like nice guys by tossing some extra alms to the poor, even though their earnings statement, the FT notes, is “conspicuously devoid of outrage triggers”: Compensation is actually down, as are VaR (the measure of the firm’s risk) and the level of toxic assets held by the bank, while capital has increased and taxes are being paid. So why are people so mean? An analyst tells Bloomberg: “They just have too much damn money.”

Goldman Net Beats Estimates on Trading, Investments [Bloomberg]